Business Update

Altria sees $25 million gain from accounting rule

Published in Pharma Law Weekly, August 31st, 2004

Altria Group Inc. said it expects a reduction in post-retirement healthcare costs and an increase in net earnings of $25 million in the second half of 2004 after the adoption of an accounting rule related to the new Medicare law for prescription drugs.

According to its quarterly report filed August 6 with the Securities and Exchange Commission, the New York-based parent company of Kraft Foods Inc. and Richmond, Virginia, tobacco giant Philip Morris has elected to adopt in the third quarter ending September 30 the Financial Accounting Standard Board's accounting rule related to the new Medicare prescription drug law.

In December 2003, President Bush...

Want to see the full article?

Purchase this article for only $3.00

We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.

Welcome to NewsRx!

Learn more about a six-week, no-risk free trial of Pharma Law Weekly

Source: Pharma Law Weekly (2004-08-31)

NewsRx is Social

Top Medical Newsletters

Awards

Best Health/Healthcare Content, 2012
Best Health/Healthcare Content, 2011
Best e-Business Site, 2010
Best e-Business Site, 2009
Best e-Business Site, 2008
Best e-Business Site, 2007
Best e-Business Site, 2006
Best Healthcare Content, 2005
Best Overall Internet Site, 2005
Best Interactive Site, 2005

Facts & Stats

NewsRx also is available at LexisNexis, Gale, ProQuest, Factiva, Dialog, Thomson Reuters, NewsEdge, and Dow Jones.

Google 2010 PageRank: #2 Among Top Health News and Media Publications
Google 2010 PageRank: #2 Among Top Science Publications in Biology/Physiology
Google 2010 PageRank: #2 Among Top News and Media for the Business of Pharmaceuticals
Amazon's Alexa 2010 PageRank: #2 News and Media Site for the Pharmaceutical Industry